Trouble for Yonghong Li: Investigation in China regarding AC Milan purchase
The focus point of the investigation into Yonghong Li is the purchase of AC Milan back in 2017, the report continues. In fact, the former Rossoneri owner is being accused of false accounting, at least that's what they have set out to investigate.
The investigation has been on the cards for quite some time, given the circumstance under which Yonghong Li ran AC Milan, and the way he was forced to default on his loan to Elliott Management. During the time as owner, he continued to state that his financial situation was healthy.
However, as the report states, the facts suggest otherwise. His biggest asset in China have declared bankruptcy when he was still at Milan, and investigators now want to shed light on the money that he used to buy the club.